The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreAug 2019
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Emerging markets are poised for dramatic growth in pet care. This will reshape the global market in three important ways. First, dense urbanisation trends and small living spaces will change the types of pets that people own and the way they care for them. Second, pet humanisation trends will intersect with new cultural paradigms on stray feeding and table scraps. Finally, the retail landscape in many emerging countries is fundamentally different, having “leapfrogged” directly into e-commerce.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
As the global economy pivots to emerging markets, the pet care industry will follow. Developing markets are poised for dramatic growth and are projected to outpace developed markets by a factor of six between 2019 and 2024.
Pet owners in emerging markets face a unique set of living conditions. None is more important than the prevalence of large, densely-populated urban centres. Small living spaces will drive demand for cats, small dogs and smaller package sizes. Pet care products are already innovating to address these challenges.
Humanisation trends are on the rise in emerging markets. This will be a huge driver of global growth. At the same time, these pet humanisation trends may look very different in the unique local context of developing markets.
As owners humanise their pets, they are also adopting a more compassionate paradigm for stray animals. Stray-feeding has become very trendy in many emerging markets, leading to innovation with stray-specific pet food formulas.
Another unique cultural backdrop in many emerging markets is a long tradition of feeding pets table scraps. One of the biggest challenges of humanisation, in this context, is getting owners to switch over to commercially-made pet food.
The evolution of the retail landscape in many emerging countries has been fundamentally different. Markets such as China have bypassed modern store-based channels and jumped directly into internet retailing. This creates new challenges for pet care brands in the form of a larger competitive set and new retail models such as super apps, social selling and mobile commerce.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.